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Canex Discovers New Mineralized Zones at Gold Range Including 53.2 G/T Gold Over 0.6 Metres
CALGARY, AB / ACCESSWIRE / May 11, 2020 / CANEX Metals Inc. ("CANEX" or the "Company") is pl...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Discovers New Mineralized Zones at Gold Range Including 53.2 G/T Gold Over 0.6 MetresCALGARY, AB / ACCESSWIRE / May 11, 2020 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce results for 29 rock samples and 435 reconnaissance soil samples taken in February and March 2020 at the Gold Range Property, Arizona.Highlights from the Sampling ProgramTwo new zones of gold mineralization have been discoveredOne discovery has been made 370 metres northwest of the Pit Zone returning 53.2 g/t gold over 0.6 metres in a surface chip sample. The zone remains open along strike.A second discovery has been made 650 metres southeast of the Pit Zone returning 7.34 g/t gold over 2.25 metres including 14.25 g/t gold over 1 metre in surface chip samples. This zone has been traced for 200 metres and remains open to the east.Soil results indicate the Pit Zone extends to the north. Combined the exposed mineralization, airborne magnetics, and elevated gold in soils define an exploration target at the Pit Zone that is 350 metres long and up to 80 metres wide. Gold in soils have identified multiple new anomalies ranging up to 100 metres across in the southern part of the claim block. These large new gold anomalies warrant immediate follow up. Dr. Shane Ebert, President of the Company stated, \"We are very pleased to see surface follow up of new gold-in-soil anomalies resulting in the discovery of two new zones of gold mineralization. These new zones occur along a northwest to southeast trend extending from the Pit Zone and support our current structural and targeting model which we continue to refine and test with each field program. We look forward to getting back into the field to expand upon the new discoveries, follow up untested gold-in-soil anomalies, and conduct preliminary surface work at conceptual structural targets. Once exploration activity can resume at Gold Range the Company will take a systematic approach to identifying and evaluating new targets as well as preparing key targets for drill testing.\"Rock SamplesA total of 30 rock samples (19 chips and 11 grabs) were taken at Gold Range during the March field program which was cut short due to the Coronavirus pandemic. Gold results from all 30 samples, including unmineralized wall rock, range from 0.01 to 53.2 g/t, averaging 4.7 g/t. Results for one of these samples...